A bill to authorize and direct the Secretary of Agriculture to pay interest on late payments to farmers, ranchers, and other producers.
Agricultural Prompt Payment Act of 1987 - Directs the Secretary of Agriculture to pay interest on any payment to a producer, rancher, or farmer under the Agricultural Act of 1949 or the conservation acreage reserve program when such a payment is not made within ten days of its due date.
Directs the Secretary to include a required payment date in each contract entered into after this Act's enactment with respect to the affected programs.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Referred to Subcommittee on Department Operations, Research, and Foreign Agriculture.
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